North London-based Engage Financial Services has made its first acquisition with a deal to buy lifestyle Financial Planning firm Kench & Co Financial Services from its parent accountancy firm.

The acquisition of Kench & Co FS, based in Henley-on-Thames, will add £20m in assets and 27 client families to Engage. 

Kench & Co’s directors John Rook and Eric Kench will support the transition of clients to Engage before stepping down as directors and retiring. 

Chartered Financial Planner Sam Sloma, managing director of Engage, said: “We aim to continue the excellent work Kench & Co have done for the families they’ve looked after. This purchase will help build out our processes for people transitioning away from work to the work optional stage of life.”

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Mr Sloma said his firm was looking for further acquisitions of similar firms.

Kench & Co FS was formed in 2006 by the principals of Kench & Co Ltd Chartered Accountants. 

In 2008, John Rook joined the company as a financial adviser and director and subsequently became a shareholder alongside Eric Kench.